The 12-year bonds issued by Golf Companies have a quoted yield to maturity of 7.9 percent,a coupon rate of 8 percent,and semiannual payments.What is the effective annual yield on these bonds?
A) 7.90%
B) 7.97%
C) 8.06%
D) 8.00%
E) 8.16%
Correct Answer:
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